The decision part 3: state tax impact and NBA free agency

Here we are again. The summer of Lebron. Four years ago, I thought Lebron would stay in Miami, but he chose to come home to Ohio. Lebron has to decide before June 29 if he will opt in to the final year of his contract with the Cleveland Cavaliers, or opt out and become an …

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Partnership audit rules, changes for 2018 and beyond

With news about the sweeping tax reform known as the Tax Cuts and Jobs Act grabbing most of the tax-related media attention, it’s easy to forget that big changes to the partnership audit process have also gone into effect for 2018. These changes have major implications for partnerships at both the entity level and partner …

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Donor retention, how good is yours?

Turning first-time donors into long-term donors is always the goal but not often the reality. Gaining new donors is expensive and time consuming and often an organization will lose on the amount of time and money put into gaining that donor if they give only once. If you feel your organization has a difficult time …

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Why CPAs who testify like QuickBooks

CPAs who perform litigation support and forensic accounting services are retained as expert witnesses to provide reports and to testify on their reports on such matters as: Determining income of mother or father from an owned business for child support or spousal maintenance purposes, Determining lost profits of a business in owner disputes, Determining the …

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Digital modernization, government and audits

With technology and society ever growing and evolving, government entities are evolving and changing themselves. Reports from the AICPA’s Charted Global Management Accounting group discuss some of the key factors and challenges faced by governments who are considering or are in the process of moving to a more digital organization (Part I and Part II). …

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Breaking: Sales tax case Supreme Court decision

On the morning of June 21, 2018, the United States Supreme Court handed down its decision in South Dakota v. Wayfair, Inc. In short, this decision remands the rulings in Quill and Bellas Hess, which required a taxpayer to have a physical presence (such as a storefront or factory) in a jurisdiction for them to …

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An appeal for cryptocurrency clarification and taxes

If trying to wrap your head around blockchain technology wasn’t difficult enough, the tax implications of cryptocurrency trading, investing, mining and bartering are no picnic to figure out either. The IRS issued Notice 2014-21 on April 14, 2014, addressing a number of frequently asked questions regarding cryptocurrency taxation. A lot has happened in the four …

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Digital tax coming to a tech company near you… possibly

Take a second and look up from your phone. What do you see?… If I had to guess, it would be other people looking down at their phones. If that doesn’t scream digital economy, I don’t know what does. The global market is growing and becoming more and more complex. Companies are reaching out and …

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Be in the tax department, they said

Following up on the blog that Tatum wrote, I thought I would give some perspective on what has changed working in the tax department since I started what seems like a bajillion years ago. When I started in public accounting, not only were there no cell phones, there were only the beginning pieces of personal …

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How to locate your old 401(k)

If you have contributed to a 401(k) at a former employer or think that you may have done so, you probably want to find your account. Maybe you switched jobs or moved and lost track of your funds. Not to worry. Your money is protected and should still be out there. Here are several steps …

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